Pension liberation scams have pushed four people who used them to take their own lives after realising they had lost much of their retirement fund, according to a victims campaigner.
The schemes, run by Ark Business Consulting and Capita Oak, told hundreds of people they could access their pension funds before age 55 without having to pay tax because of a legal loophole. In reality, those who invested in the schemes are now liable to pay a 55% tax charge on the money they took out, leaving many owing hundreds of thousands of pounds, according to the Daily Mail. Savers trying to get their money back have been unable to contact the trustees of Ark and Capita Oak. Angela Brooks, chairman of the campaign group Ark Class Action, warned the 700 people caught up in th...
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